Anchor Investment Management LLC Takes $248,000 Position in Owens Corning (NYSE:OC)

Anchor Investment Management LLC acquired a new stake in shares of Owens Corning (NYSE:OCFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,675 shares of the construction company’s stock, valued at approximately $248,000.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Owens Corning by 3.7% during the third quarter. State Street Corp now owns 4,301,672 shares of the construction company’s stock valued at $338,154,000 after buying an additional 155,155 shares during the last quarter. LSV Asset Management boosted its holdings in Owens Corning by 0.9% during the third quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock worth $307,800,000 after purchasing an additional 19,590 shares during the last quarter. Bank of America Corp DE boosted its holdings in Owens Corning by 24.9% during the first quarter. Bank of America Corp DE now owns 1,556,181 shares of the construction company’s stock worth $149,082,000 after purchasing an additional 310,487 shares during the last quarter. Invesco Ltd. boosted its holdings in Owens Corning by 156.1% during the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after purchasing an additional 906,782 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Owens Corning by 0.4% during the second quarter. Geode Capital Management LLC now owns 1,406,427 shares of the construction company’s stock worth $183,904,000 after purchasing an additional 5,517 shares during the last quarter. 90.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on OC shares. Evercore ISI lowered shares of Owens Corning from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $163.00 to $154.00 in a research report on Thursday, February 15th. Truist Financial lifted their price objective on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on shares of Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Finally, UBS Group lowered their price objective on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Check Out Our Latest Stock Report on OC

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Owens Corning news, insider Gunner Smith sold 708 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the sale, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,672 shares of company stock valued at $3,325,799. Insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $159.79 on Friday. The company’s fifty day moving average price is $150.70 and its 200-day moving average price is $140.60. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.44 and a beta of 1.46. Owens Corning has a one year low of $89.00 and a one year high of $163.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17.

Owens Corning (NYSE:OCGet Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm earned $2.49 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning will post 14.08 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio is currently 18.29%.

Owens Corning Profile

(Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

Featured Articles

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCFree Report).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.